CBS Studio City, Los Angeles sold for $1.8 billion.
Hackman Capital Partners and Square Mile Capital Management LLC had the winning bid, beating out about a dozen or so other parties, these people said. The price tag was also about $500 million more than what the studio was projected to fetch three months ago when it was put up for sale, according to these people.
The higher-than-expected price tag shows how demand for limited studio space is rising. New demand is being fueled in large part by companies such as Amazon.com Inc., Netflix Inc. and Apple Inc. competing to create new streaming content.
Real-estate investors are getting in on the action by buying the sound stages, office space and other real estate tied to show business.